Bitmain Announces Next-Generation ASIC Chip, New Mining Machine will be Available Soon

BEIJING, Sept. 21, 2018 /PRNewswire/ — Jihan Wu, CEO and co-founder of Bitmain Technologies Ltd., announced Bitmain’s next-generation ASIC chip BM1391 for mining cryptocurrencies using the SHA256 algorithm at the World Digital Mining Summit in Georgia today. Mr. Wu also revealed that Bitmain will soon launch a new generation of mining machines equipped with the BM1391 chip.

The new ASIC SHA256 algorithm acceleration chip carefully built by Bitmain uses one of the world’s most advanced semiconductor manufacturing technologies, 7nm Finfet. The ASIC chip integrates more than a billion transistors and is optimised for maximum efficiency. Thanks to its unique circuit structure and low power technology, it is stable and more efficient. Mr. Wu said tests have shown that the chip can achieve a ratio of energy consumption to the mining capacity that is as low as 42J/T.

At his keynote speech at the summit, Mr. Wu said mass production of the 7nm chip will begin and be applied to the next generation of Bitmain’s Antminer machines, improving the new miners in various performance indicators, in terms of power and power consumption, and enabling outstanding performance.

Mr. Wu also pointed out that blockchain technology has continued developing to the present day, noting that the technology’s first decade has seen many difficulties and that the future direction of development will center around applications of the blockchain. He said that as applications continue to develop, the industry’s market capitalisation as a whole will drive growth. Exponential growth in blockchain user traffic will at the same time require ever greater capacity in data processing, with hardware acceleration and parallel computing technologies being integrated with blockchain to help solve this problem.

Bitmains 7nm chip to be used in a new Antminer

Bitmain has been committed to the development and launch of high-performance computing chips. Since its establishment, Bitmain has independently developed and mass produced a variety of chips. In 2016, Bitmain took the lead in releasing and mass-producing 16nm chips, applying them to its Antminer S9 miner and other models. The Antminer S9 quickly occupied international markets with its high-computing power, low power consumption, and strong stability, and has become a leader in the global mining machine industry. In addition, Bitmain’s Antminer series of mining machines has introduced a variety of models that support different encryption algorithms to meet the global demand of different digital currencies.

As a world-leading high-performance computing chip company, Bitmain has grown rapidly over the years. It now has multi-brand businesses including Antminer, Antpool, BTC.com and Sophon. Bitmain’s cryptocurrency mining machine has long been a world leader with a market share of more than 70%.

The 7nm chip reflects the R&D strength of Bitmain and further consolidates Bitmain’s industry position. For the entire industry, this not only accelerates the development of digital currency mining but also sets a new benchmark for quality, providing miners with a better mining experience.

Disclaimer: This is a paid press release. Readers should do their own due diligence before taking any actions related to the company, product or service. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product or service mentioned in this press release.

Cryptocurrency Elite Gathering at Crypto Fest 2019 in South Africa

Bitcoin Events is hosting the first-ever Crypto Festival in Cape Town on 7 September 2019 at Shimmy Beach Club, V&A Waterfront. This is the first event of its kind in South Africa and with the tremendous interest in cryptocurrencies that exist in South Africa, this event is certainly going to provide several insights into why South Africans are investing in, and trading with cryptocurrencies!

What You Can Expect at the Crypto Fest

Bitcoin is now 10 years old and with it has come a plethora of exciting new ways to transact, invest, trade and conduct business. The Crypto Fest 2019 strives to bring cryptocurrencies to life through immersive activities showcasing examples of real-world applications and increased engagement opportunities to make the connections needed to expedite cryptocurrency adoption through controversial crypto debates in the Crypto Battle Arena, live crypto gaming and fun competitions with crypto giveaways. The festival will culminate with a crypto party!

On the Crypto Fest Stage

We are delighted to welcome our confirmed speakers who are recognised as thought leaders in the cryptocurrency industry.

KHAYA MALONEY is a blockchain design solutions architect and strategic fintech business developer in South Africa. He’s currently the OKEx Country Manager for South Africa Market where he’s in charge of growth development.

SHANTNU SAXENA, EVP At Huobi MENA. He is considered an innovative and results-driven leader focused on achieving results in highly competitive environments that demand continuous improvement.

MARIUS REITZ, the General Manager for Africa at Luno, a leading global cryptocurrency company with its head office in London. He joined Luno in 2016 and helped the company grow to a diverse team of 300 people across three continents. Marius wholeheartedly shares his company’s philosophy of upgrading the world to a better financial system.

CLAIRE HALL, MC For Women In Crypto Meetup, Sydney. Once coined a ‘corporate hippy’, Claire Hall is a passionate ‘woman in crypto’ working at a grassroots level to entice other ‘everyday’ women into the world of crypto. Claire is a Corporate Learning Consultant for a large financial institution in Australia where she is working to put blockchain on the agenda.

ABRAHAM CAMBRIDGE, founder and CEO of the Sun Exchange, is a serial energy entrepreneur who establishes businesses and projects that use solar energy to effect socio-economic change. In 2014 he launched Sun Exchange, a global solar micro-leasing marketplace that closes the funding gap for commercial- and community-scale solar projects in emerging markets while streaming monetised sunshine all over the world.

Hotly contested debates and discussions will take place in the Crypto Battle Arena:

Crypto Battle I: Battle of the Coins

The Bitcoin Civil War between BTC, BCH, and BSV is hotter than ever, with existential stakes for different communities of stakeholders. Many different opinions exist in the crypto community on which bitcoin is the true bitcoin: which is the most efficient payment system.

Catch Rocelo Lopes, Warren Gray and Lorien Gamaroff, in this crypto battle ring, with James Preston as the moderator.

Crypto Battle II: Bitcoin vs. Gold

Gold has historically played a central role in economies driven by physical exchange and remains a recognised store of value to this day. What are the investment cases for gold vs the investment cases for bitcoin?

Catch Richard de Souza, Graeme Tennant and Piotr Tylczynsk, in this crypto battle ring, with Grey Jabesi as the moderator.

Crypto Battle III: Libra Coin: What Does it Mean for Crypto?

It is no more news that Facebook is taking a chunk of its resources and technical know-how to establishing a coin, Libra, offering a “faster, cheaper and more secure” alternative to traditional ways of making payments on the internet. Is Facebook’s entrance into the crypto market the best thing to happen in crypto?

Read more about our speakers here. The focus of the Crypto Fest is on cryptocurrency investments, trading, and payments. Have a look at the exciting festival programme here.

Sponsors on the Crypto Fest Throne

The Crypto Fest is a global arena for industry leaders to share their breaking news and technologies with a legion of investors, experts, developers, businesses and participants who are using cryptocurrency to redefine the prevailing practice of everyday life.

Premier Sponsors

One of South Africa’s first cryptocurrency exchanges, AltCoinTrader SA, providing cryptocurrency trading in South Africa since 2015.

IG is a world-leading online trading provider, giving you access to opportunities across thousands of financial markets through our intuitive platforms and apps.

Diamond Sponsor

OKEx is a world-leading digital asset exchange, providing advanced financial services to traders globally by using blockchain technology. OKEx provides hundreds of token and futures trading pairs to help traders to optimise their strategy.

Platinum Sponsors

Huobi provides secure and reliable digital asset trading and asset management services to millions of users in over 130 countries around the world.

Stratum is a technology company that develops blockchain solutions focused on digital currencies. Stratum has developed their Stratum Blue token, a digital token that represents a diversified portfolio of cryptocurrencies.

MineBest is a cryptocurrency mining company, who prides itself as a technologically advanced infrastructure company specialising in cryptographic computing activities.

Gold Sponsors

Lunois South Africa’s oldest cryptocurrency exchange, with over 2 million customers in 40 countries. Luno makes it safe and easy to buy, store and learn about cryptocurrencies.

YOUNIQX brings products and services for secure digital identity to the spotlight internationally.

Sun Exchange is the world’s first buy-to-lease solar cell marketplace. Through Sun Exchange, anyone, anywhere in the world, can own solar energy-producing cells and build wealth by leasing those cells to businesses and organisations in emerging markets.

Blockchain Africa Conference 2020

We are planning our next event! The Blockchain Africa Conference is in its 6th year and we are expecting 600+ attendees for the conference. The general theme is the use and application of emerging financial technologies, i.e.: Blockchain Technology and cryptocurrencies, beyond the Fourth Industrial Revolution, and how these emerging technologies enable and enhance artificial intelligence and machine learning in enterprise development in the efforts and championing toward financial inclusion.

Subscribe to our newsletter to stay informed of our next events and news of the global blockchain and cryptocurrency industry. For more information on this and future events, please email the team at info@blockchainafrica.co.

About Bitcoin Events

Since inception, Bitcoin Events have cut through the hype and challenged the critics to educate,upskill and drive long-term thinking on the strategic benefits of cryptocurrencies and blockchain technology for businesses, governments, citizens, and society.

Disclaimer: This is a press release. Readers should do their own due diligence before taking any actions related to the company, product or service. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product or service mentioned in this press release.

“Zcoin’s listing on OVEX will create the opportunity for traders to fill the vacuum in offering privacy with the introduction of $XZC to the South African market especially with the ZAR pairing that opens door to it being readily adopted in the country. This is an exciting development and opportunity to expand in a rapidly developing country where cryptocurrency trading volumes are on the increase,” says Poramin Insom, Founder & Core Developer of Zcoin.

OVEX’s is the most advanced cryptocurrency exchange in South Africa and offers traders both simple and advanced modes to suit the needs of different traders on a secure and trusted platform.

“We’re excited about the potential for growth on this coin, privacy coins are an essential part of the crypto ecosystem and we’re very excited to give South Africans access to this opportunity,” says Jonathan Ovadia, CEO of OVEX.

As part of the official listing, Zcoin and OVEX will be hosting a community-focused event in Woodstock, Cape Town, to introduce $XZC to users on the platform. Interested attendees can find out more here.

Most recently, Zcoin became the first cryptocurrency to be usable at any of the five million merchants registered via Thailand’s nationwide QR code system through the Satang App.

Zcoin has been actively working on the Sigma privacy protocol since early 2018 and the mainnet launch of Sigma marks the first in a series of upgrades in Zcoin’s privacy protocol.

Sigma’s eventual replacement, the highly anticipated Lelantus which has garnered academic interest, is Zcoin’s own independent innovation that further improves on Sigma’s capabilities by removing the need of fixed denominations and hiding transaction values. Lelantus is currently in development and scheduled to go on testnet in early 2020.

Disclaimer: This is a press release. Readers should do their own due diligence before taking any actions related to the company, product or service. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product or service mentioned in this press release.